Foreign Business Act: Thailand to liberalise back-office activities
BANGKOK - Thailand has taken a further step towards deregulating a number of back office activities, with the Cabinet approving draft Ministerial regulations prepared last year by the Ministry of Commerce.
In a Client Alert, lawyers Baker McKenzie say the next step towards deregulation will be for the Office of the Council of State to examine the draft Ministerial regulations and forward the draft to the MOC.
Upon issuance of the Ministerial regulations by the MOC, a foreign business license to operate a number of back office activities will no longer be required.
Service activities to be excluded from Schedule Three (21) of the FBA cover:
Lending money to affiliated/group companies in Thailand;
Renting out office space including public utilities to affiliated/group companies; and
Providing consultation and recommendations to affiliated/group companies in the following fields:
- human resources; and
- information technology